tv Cavuto on Business FOX News June 20, 2015 7:30am-8:01am PDT
long-term vanguard government bonds. >> twitter has acknowledged their prons. i think the stock turns up 20% on the year. >> get in on the debate. #bullsandbears. tweet us. neil is next. sick of politicians bought and paid for to one who's bought and paid for i guess himself. >> i've done an amazing job. i hire people. they do a website. it costs me $3. i'm rich. i have lobbyists that can produce anything forrer for me. net worth dlshgs 8 billion. i don't need anybody's money. it's nice. >> home run, hello. i'm neil cavuto. that single-handedly ha made the election season. isn't that rich? the donald telling america it's okay to be rich even when you're running for the white house. is that the message america need to hear?
that's why i want you to forget about what you think of the messenger and focus on the content of the message. liberals whining about it. just stuff it. ben stein, megan mcdowell, charleycharl charley gasparino. the very rich charles payne is off today, no doubt piling up more money into his considerable pot. adam also off today, no doubt finding ways to take that money from him. gary i'm not here to express positively or negatively on his campaign but the message is rich and proud of it. what do you think? >> i think the message is about greatness not just the amount of money. the message in this country in recent years is about limitation not potential, it's about welfare and not workfare. and all this talk about if you're poor and middle class it's because others are rich and
keeping you down. i love the message and hope he keeps talking about it. >> megan. >> i agree. this is a message that's sorely missing from politicians these days. the american dream of working hard and building something and becoming successful and if you get rich in the meantime while you're doing that, that is great. you are welcome to brag about it. i know trump is the poster poi of pomposity, but he's still -- >> i like that. poster boy of pomposity. is that a little overdone? >> i really like donald personally known him for a long time covered him far long time. there were many more messages in that speech. the aspirational part of it was the best, where he soared, where he totally lost it was on the talking act mexican imgrants to who come to this country. he wants to put up a wall. he says mexico is going to pay for it.
he basically said mexican immigrants are -- >> you don't know because if he were preponderate they might volunteer to do snus just that. >> i doubt it. my point is he said some things about the economy that were wrong, about mex cants coming -- i understand, that but on the message he'll embrace, mitt romney has done that i wonder if it would have been different results. he was always hiding on defense because he was successful. >> i don't think that mr. trump is rich has anything to do with whatsoever that he would have been a good president. fine if he wants to brag about it. to meitis like chuckles the clown bragging about being funny. i did a lot of writing for your sister baron's, and i'd like to find out how mr. trump got to be so rich. some is not so pretty. >> i know a lot of those writings. i do my due diligence here. i sent them all back to donald
trump so he could review them himself. >> i heard from them. >> i bet you did. on that notion obviously hillary clinton is wealthy. we have a couple who are wealthy, not donald trump wealthy. what do you make of that a candidate coming saying you can have this too. we can go ahead and do this get everything that you dream of and do it all over again? what do you think? >> i'm skeptical he's as rich as he said he is. i want a look at the tax returns. the problem with mitt romney wasn't so much he was rich, that's fine the problem is the policies he embraced would have helped the rich and not so much anybody else. i think that's where the difference is. >> have you ever met a republican whose policies you did like? >> i did. many times. >> who? >> i've voted republicans many
times. >> when? >> the last governor of new york i did not vote democratic. i did. >> there's a political problem for donald too, you say you're rich you key year to dated all this wealth back to ben stein, the central theme of your candidacy is being rich, people will judge you-. how did you become rich? >> 24 days or something. >> it will come. >> you don't think he's serious. >> i don't. i think he backs out. it was somewhat of an aspirational speech. >> i thought you were going to say something else. >> think about it. he's talking about how rich he is instead of how great we can make other people then he goes and attacks immigrants. >> let's compare messages. what message do you want to hear? do you want to hear from elizabeth warren hillary clinton, barack obama about -- hold on a second. >> you're comparing it to -- >> let gary go. >> the main point is their messages, if you're rich you
got there some nefarious way and you're keeping others down. >> you're comparing it to -- >> let me finish for a second. i just want to hear from the high ups that from wherever you are in life you can become great at something and inste of being jealous and envious of greatness, how about learning from them and following them? >> that's not what he said. >> i think that's what the emphasis was. >> he said i'm great, i'm rich. by the way, if you're like me, the american dream is over. >> you don't need to compare trump to elizabeth warren but you can compare him to -- >> grey poupon. >> mitt romney. you've had candidate, even john kerry because he married into wealth they kind of tried to ignore they had money. >> embrace who you are. >> embrace it. >> just don't brag about it.
>> particularly with mitt romney and how he built it, but then you get into the private equity thing. being wealthy from hard work is not a dirty thing. >> is it dirty to say i'm rich i'm great, i'm wonderful, i'm the only thing standing between people getting the american dream and utter failure? >> i think going down the escalator with walls of marble. >> she's going to be the best looking first lady ever. >> laura bush. >> one thing that will come up and we have different views on, this but there is a focus on more republicans' wealth than democrats' wealth. this year we're being a little tougher than we normally see on-in the media on hillary clinton and her wealth in her speeches but nothing compared to what mitt romney wept through for his wealth.
i don't think anybody made a big deal of john kennedy's wealth to the degree we see today. fortunately kennedy was able to joke about it and say his father was going to buy him a landslide. by and large, it is disproportionate and uneven when it comes to republican wealth and the candidates and democratingic wealth and the candidates. on that level you ashamed to be a lib sflal. >> every single day. i can't wait for donald trump -- mentioned fdr, a chicken in every pot, and donald it's a gold-plated toilet in everybody's house. >> it would be brass. you made my earlier point for me which is nobody minds wealth like fdr if you actually embrace policies that lift everybody else up. but mitt romney never embraced those policies. >> americans agree with you, some of them. i'm wondering where does donald trump go now.
carl icahn telling me on fox business look i'm flattered that donald trump is considering me as treasury secretary. i think he pooh-poohed the idea. but he agrees with the views that the markets are propped up by helium and fed buying and all of that and thinks it's dangerous. does that insight give donald an edge that other candidates don't have? >> donald trump is not a particularly smart person in my opinion. he has unlimited chutzpah. i think a very thon of how he made his money is in order. let's see what that turns up. >> chutzpah those not familiar gall. when we come back did a former fed chief named paul volcker call chris christie a joker?
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humira works for many adults. it targets and helps to block a specific source of inflammation that contrubutes to ra symptoms. humira can lower your ability to fight infections, including tuberculosis. serious, sometimes fatal infections and cancers including lymphoma have happened, as have blood liver and nervous system problems, serious allergic reactions and new or worsening heart failure. before treatment get tested for tb. tell your doctor if you've been to areas where certain fungal infections are common, and if you've had tb hepatitis b, are prone to infections, or have flu-like symptoms or sores. don't start humira if you have an infection. talk to your doctor and visit humira.com this is humira at work. live from america's news headquarters i'm uma pemmaraju. prosecutors resting their case in the colorado theater shooting trial. they wrapped up arguing that james holmes methodically
planneded and carried out that massacre in 2012 and they tried to convince the jury he was mentally competent at the time. holmes has pleaded not guilty by reason of insanity. defense attorneys begin their case next thursday. that shooting attack leaving 12 people dead and another 70 others injured. what was supposed to be a fun day at the ballpark leaves a young man in the hospital after he was hit sharply by a foul ball hit at the phillies/cardinals game in philadelphia. he was sitting near the first base when domonic brown of the phillies hit the foul ball in the ninth inning. no update on the boy's condition this morning. it's the second major league baseball accident in two weeks pap boston red sox fan was injured after she was hit in the face by a broken bat. i'm uma pemmaraju. now back to "cavuto on business." forget a coming rate hike, the former federal reserve chief paul volcker just told me on fox business that certain governors should take a hike. listen. >> the biggest single problem is
many states are not taking care of their pensions which they're obligated to do. >> new jersey comes to mind. >> a prime suspect in that particular respect and not alone but they are certainly important in new jersey there. >> they put off something till tomorrow that they should do today. chris christie argued that things changed, couldn't make good on the payment, wants to bring this back to get them all at the table again. but a judge has effectively said he could do that but you argue -- >> it's thwarting the pain. you have to live up to that at some point because these are obligations they've undertaken not to be changed. new jersey not just this present government. it's been, you know -- >> a bipartisan neglect. >> for some years. >> what do you make of that ben
stein, we're not making good on that? >> paul volker is a national treasure, a genuine hero an amazingly intelligent man of great integrity. we disregard anything he says at our peril. we should listen to him-e's been right over and over and over again. >> dagen, i think ben agrees. >> 100%. >> what do you think? >> neil greece is in their situation because a large portion of that government spending is for early retiring government workers, a large part of the workers as a whole. see illinois massachusetts, all these other states. there is the problem. on top of fictional accounting they thai use 8% returns on money when they're not even getting it. it's an accident waiting to happen. i don't know what year but look out below. >> what he did say, julie, 42 of the 50 states have played fast
and loose with the moneyunoney anies and didn't pay attention to pensions and other liabilities. is that a concern? >> yeah it is. everything ben said about paul volcker is absolutely right. this should not be a surprise to chris christie. his own revenue projections were off every single year. >> not the first governor guilty of that. >> no but the first do it intentionally because someone wanted to run for president. >> i'm talking about new jersey. >> talking about all the states that have financial problems. where are all the bum who is elect these people who run these states? we're the very bums buying the municipal bonds, funding these bad habits. be careful what you wish for. look at jerry brown. he's righted that state's finances. he created new income tax brackets although temporary, ha-ha, for the wealthy, and raised the sales tax. >> but he solved the problem to
some extent. >> be careful of the solution. >> he did not solve the problems. >> i have great respect for paul volcker but he's a liberal and what he refews to acknowledge is liberal policies in these states of high taxes -- >> everything is poll politics. >> this is policy. >> nasty politics. >> high taxes and big government has been chasing businesses out of -- >> but when he was talking to me one-on-one he was telling me -- he said a combination. >> cut taxes. >> whatever we do we have to look at this. democrat and republican run states. >> he's not a liberal, all due respect. >> you're basing that on the fact that jimmy carter appointed him and he worked with barack obama and that he has only said wonderful things about democratic presidents. >> that's my only thing. >> dagen had a good point. he heralded california and part of that was the tax increases that you argue are -- >> large part of their finance
was tax increases and you are living in trump land if you think those tax increases aren't going to be -- >> if you think more businesses aren't going to believe those taxes. >> right. >> up with of those ticking time bombs we don't appreciate. part of the volcker coalition is look at these staltds that are doing this because he says a lot of republicans in particular a lot of people talking about the debt, getting entitlements under control, but each of these state, a vast majority are time bombs in and of themselves. >> just study history. massive debts have caused leverage and lying about the massive debt and massive leverage. we can go back to 2007 and 2008 with housing. and leverage. that came because of massive debt. i don't think we can roll this thing back because it is so gar gaj want. big government it's gargantuan
government. some spending of states have more than doubled in the last five or ten years. >> near 0%. >> talk about the -- >> someone's a hater. >> never spoke about the size of it. listen to the warning. should have asked him about that. >> this is all happening with asset prices up. >> thank you. you get it. agree with the host. this guy does it. we're going to take a quick break. when we come back forbes on fox, dave, what do you have in store? >> hi neil. if iran won't let us verify a nuclear deal what good is a white house czar so enforce that deal? are taxpayers looking at another raw deal? hillary clinton's campaign promising tax hikes. wait a minute. i'm sorry. revenue enhancements are on their way. if they can't call it what it is is it time for you to worry about it? we'll see you soon neil. >> all right. thank you, david. after that massive hacking,
>> after the largest hack in our nation's history, what is the government agency at the center of it doing? hiring coaches to help its my name is mary molina and i'm a pipeline engineer for pg&e in the sacramento region. new technology is being used in all facets of the company and what we do. pg&e is employing these technologies as an investment to the system for the long run. we're not just going to roll up and go home because we live here and we work here and we care about the work and we care about doing it right. we all have the same goals to make the system safe and to make the community safe.
where is my incense? i need a morale boost. >> there are plenty of volunteers. >> was that on the air? i guess it was. >> yeah. >> what do you think? >> i'm angry. >> i understand. >> you want to roll my jeans? >> no i do not. >> i need some boost -- morale boost. say something nice please about me. >> no no. that's weird for the government. >> the government -- you know government is so politically correct, they probably think this has some impact on helping the sick people work harder and better and obviously -- >> they did this in the tsa to talk about low morale at the tsa all the time. here's your morale boost. you're going to get fired unless you do your job better. there's your morale boost. this is ridiculous. >> but they don't get fired. >> i know. that's the point. >> that was a metaphor. gotcha. julie, do you find it weird that -- now, i understand the workers are beaten down and everything they do is deemed in the media to be foolish and all that.
do we really need to be doing that? >> i'll take a bottle of grey goose. that's my morale boost on a friday night. i don't need anybody to talk to me. i'll see you monday. >> i see where you are going with that. >> there are other ways to do it. she wants a set of candles. i want something stronger. >> ben stein, it tells in a funny way everything you have feared about government. if you think about it we've not heard anyone from the administration. no one has lost their job except for a couple that have resigned and are still getting paychex. where is the accountability? >> being in a civil service means that rather than you say you're sorry, that's the sad truth. i was in the civil service for a large part of my work life and the work was incredibly boring and dreary but lifetime security, and it's got its perks. they don't get paid a lot, but it's got its perks. no one is held accountable. what do you think?
>> neil there is not one shred of accountability. there is absolutely no profit motive when it comes to government. when no one is looking over your shoulder you can do whatever you want and sign up for anything. i'm surprised they do not have foot massages and grey goose on the table. >> we're not sure if they do. >> remember you're supposed to trust them. >> trust exercise. >> trust exercise. >> i wish we had more time for both these guys. i want to thank julie now. don't have a fit if you missed the high-flying debut. our pros have even bigger hits for you.
sometimes the present looked bright. sometimes romantic. there were tears in my eyes. and tears in my eyes. and so many little things that we learned were really the biggest things. through it all, we saved and had a retirement plan. and someone who listened and helped us along the way. because we always knew that someday the future would be the present. every someday needs a plan. talk with us about your retirement today. we've got stocks ready to sweep ahead. ben, what do you got? >> i love -- southern. there's a darn good railroad. they're not making any more of them. >> interesting. what do you got? >> cvs drugstore. just very good consistent growth, and they just did a great deal with target.
i think that's going to be 25% in the next year. >> i know you're bearish. the exact moment we hit this market will you clue me? ? >> number third, lululemon. >> there you go. more now. >> so you don't trust iran to live up to any nuclear deal? well then get a tsar to make sure they do. days left to wrap up nuclear talks with iran that's what the administration is planning to do but did the iranian president just do something that proves they'll never let a czar or anyone else enforce a deal. hi everybody. welcome to forbes on fox. let's go in focus with steve forbes rich elizabeth mcdonald, sabrina shafer mike and bruce. rich the iranian president saying again they're not going to let any inspectors in to military sites. how is a czar supposed to help? >> well you identified the problem